In my experience, layoffs almost always happen in waves. The first layoff is usually when nonperformers and people who are already on managers' hit lists (peopl

In my experience, layoffs almost always happen in waves. The first layoff is usually when nonperformers and people who are already on managers' hit lists (people who are hard to fire only for legal reasons) are jettisoned. Later rounds start eating into actually valuable employees. In the interim, many experienced people read between the lines and make for the exits, further depleting the ranks and leaving behind folks who can not or will not look for opportunities elsewhere.